AQR Capital Management LLC Boosts Position in Bank OZK (NASDAQ:OZK)

AQR Capital Management LLC boosted its stake in shares of Bank OZK (NASDAQ:OZK) by 291.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,371,892 shares of the company’s stock after buying an additional 1,765,974 shares during the quarter. AQR Capital Management LLC’s holdings in Bank OZK were worth $95,848,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. LRI Investments LLC purchased a new position in shares of Bank OZK during the first quarter worth approximately $29,000. PSI Advisors LLC increased its holdings in Bank OZK by 20,933.3% during the 2nd quarter. PSI Advisors LLC now owns 631 shares of the company’s stock worth $26,000 after purchasing an additional 628 shares during the period. Versant Capital Management Inc raised its position in Bank OZK by 423.0% during the 2nd quarter. Versant Capital Management Inc now owns 978 shares of the company’s stock valued at $40,000 after purchasing an additional 791 shares in the last quarter. Innealta Capital LLC purchased a new stake in shares of Bank OZK in the 2nd quarter worth $46,000. Finally, Abich Financial Wealth Management LLC bought a new position in shares of Bank OZK during the 2nd quarter worth $49,000. 86.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Wells Fargo & Company decreased their price objective on Bank OZK from $39.00 to $35.00 and set an “underweight” rating for the company in a report on Thursday, June 6th. Truist Financial lowered their price target on shares of Bank OZK from $49.00 to $48.00 and set a “hold” rating for the company in a research report on Friday, September 20th. StockNews.com raised shares of Bank OZK from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Stephens restated an “equal weight” rating and set a $50.00 target price on shares of Bank OZK in a report on Thursday, July 18th. Finally, Morgan Stanley lifted their price target on Bank OZK from $48.00 to $51.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. Two research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to data from MarketBeat, Bank OZK has a consensus rating of “Hold” and an average price target of $46.57.

Bank OZK Price Performance

Shares of OZK opened at $41.72 on Friday. The company has a 50 day moving average of $42.57 and a two-hundred day moving average of $43.10. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.17. Bank OZK has a twelve month low of $34.76 and a twelve month high of $52.36. The company has a market cap of $4.73 billion, a price-to-earnings ratio of 6.99 and a beta of 1.17.

Bank OZK (NASDAQ:OZK) last posted its quarterly earnings data on Wednesday, July 17th. The company reported $1.52 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.52. Bank OZK had a return on equity of 14.50% and a net margin of 27.04%. The firm had revenue of $416.78 million during the quarter, compared to analysts’ expectations of $414.39 million. During the same quarter last year, the firm earned $1.47 EPS. The business’s quarterly revenue was up 7.2% on a year-over-year basis. As a group, analysts predict that Bank OZK will post 5.98 earnings per share for the current fiscal year.

Bank OZK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 19th. Stockholders of record on Friday, July 12th were paid a dividend of $0.40 per share. This is a positive change from Bank OZK’s previous quarterly dividend of $0.39. The ex-dividend date was Friday, July 12th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.84%. Bank OZK’s payout ratio is presently 26.80%.

About Bank OZK

Bank OZK provides various retail and commercial banking services for individuals and businesses in the United States. The company offers deposit services, including non-interest bearing checking, interest bearing transaction, business sweep, savings, money market, individual retirement, and other accounts, as well as time and reciprocal deposits.